| CP# | 743.3 |
| Idea | BUY |
| Buy Range | 726 – 737 |
| Target | 760 – 765 |
| StopLoss* | 708 |
| Duration | 12 – 15 Trading Days |
| Potential Return^ | 4 – 5% |
| CP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 743.3 | BUY | 726 – 737 | 760 – 765 | 708 | 12 – 15 Trading Days | 4 – 5% |
# CP – closing price on Dec 17, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 746.
^ The returns are calculated based on median price of the Buying Range.
COMPANY OVERVIEW
CESC Ltd is an integrated power utility company engages in the generation, transmission and distribution of electricity to the domestic, industrial and commercial users in the area of Kolkata, Howrah and West Bengal in India. The company also owns and operates a solar plant in Gujrat, hydro power in Arunachal Pradesh and wind power at Rajasthan. In Q2FY20 the company’s net income was improved by 1.83% to Rs.3,010 crore and Net Profit jumped by 7.07% YOY to Rs.333 crore.
| Stock Data | |
| NSE Code | CESC |
| Sectoral Index | Nifty Infra |
| 52W High | 851.7 |
| 52W Low | 642.6 |
| Face Value | 10 |
TECHNICAL OBSERVATIONS (WEEKLY)
- As the Weekly chart shows, the stock has been moving in an Upward rising channel trend since 2012.
- There is a steady support baseline which is moving upwards along with price rise. The support had been tested multiple times in the earlier.
- Based on the historical price pattern, we may expect price to move higher from here.
TECHNICAL OBSERVATIONS (DAILY)
- The daily chart indicates that after a month downtrend (since Nov 2019), the stock has given a breakout of the trend line suggests positive sign.
- There is a bullish engulfing candlestick formation on the past two days. Usually, this type of candlestick suggests the bull has taken control of a security’s price movement from bears.
- The Ultimate oscillator is showing a positive crossover at the 50 level, which points out for a positive breath in the stock.
CONCLUSION - CESC SHARE PRICE FORECAST
LIVE UPDATE - POSITION & ACTIVITIES
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CESC on the Upward rising Support line again on the Weekly chart. A daily price breakout also suggests Upside movement.#tradingstrategy #technicalanalysis #trading #tradingtips #hedgefund #financialmarkets #investments #cesc #buysell #nsehttps://t.co/wQFqCFVSgu
— Goodluck Capital (@CapitalGoodluck) December 18, 2019